Beware of Appraisers Point Solicitations
Appraisers, a new ‘company’ with “Appraisers Point” in their name has been marketing their services via emails across the fruited plain lately, encouraging appraisers to sign up on their web site and pay an annual fee so that ‘you’ can get on a list to be presented to, or accessed by, unnamed lenders, who might, or might not, want your service.
They have a very slick looking web site that makes them look legit.
Appraisers Point has no location shown on their website, so in reality, it could be anywhere in the world. The email messages show a location in Miami, FL. This location is a high-rise office building in downtown Miami. I called the leasing office for that building and asked if they have a tenant with the above name, or any other appraiser offices in their tower. The answer was NO.
They appear to be operating (which is in question) as a ‘portal‘… meaning they just provide a central repository of appraisers the lenders can access. Their marketing web site does not say anything about “Appraisers Point” doing anything regarding appraisal placements or after submittal report reviews. Therefore, per current policies, they technically are not an AMC. Fee payments will be from the actual lender.
When you look through their website, you’ll find a FAQ page, which has their list of suggested appraiser fees. If you think these are worthy of your experience and licensing requirements, by all means, take the bait and sign up with them! For only $48 per year, what could you lose? Well, for starters, $48! Because you really don’t know where your payment winds up.
I’ll let you surmise what I believe this marketing campaign is all about… and what you should do with the messages.
|APPRAISAL REPORT TYPE||FEE STARTS|
|1004 – Single Family Home Appraisal||$370|
|Single Family FHA Appraisal||$400|
|1007 Rent Schedule with/without 216 Operating Income||$200|
|1025 Duplex Appraisal||$550|
|1025 Fourplex Appraisal, Multi Family Investment Properties and Rentals||$550|
|1073 Individual Condominium Unit Appraisal||$370|
|2000 Single Family Field Review||$250|
|2000 Two- to Four-Family Field Review||$300|
|2055 Exterior Only (AKA Drive By) Single Family Appraisal||$250|
|2070 or 2075||$120|
|Commercial Appraisals||BY QUOTE|